Shimmick Corporation (NASDAQ:SHIM) Short Interest Update

Shimmick Corporation (NASDAQ:SHIM) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totaling 10,966 shares, a drop of 20.5% from the December 15th total of 13,796 shares. Approximately 0.1% of the shares of the company are short sold. Based on an average daily trading volume, of 52,608 shares, the days-to-cover ratio is currently 0.2 days. Based on an average daily trading volume, of 52,608 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the shares of the company are short sold.

Analysts Set New Price Targets

SHIM has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of Shimmick in a research note on Monday, December 29th. Craig Hallum raised Shimmick from a “hold” rating to a “buy” rating and set a $6.00 price objective on the stock in a report on Monday, January 5th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $6.00.

Institutional Trading of Shimmick

Several institutional investors have recently made changes to their positions in SHIM. Thompson Davis & CO. Inc. lifted its holdings in Shimmick by 13.4% in the fourth quarter. Thompson Davis & CO. Inc. now owns 124,722 shares of the company’s stock valued at $364,000 after acquiring an additional 14,722 shares during the last quarter. Avanza Fonder AB lifted its stake in Shimmick by 19.4% during the fourth quarter. Avanza Fonder AB now owns 23,878 shares of the company’s stock worth $70,000 after purchasing an additional 3,878 shares in the last quarter. Finally, Sanders Morris Harris LLC grew its position in Shimmick by 8.1% in the 3rd quarter. Sanders Morris Harris LLC now owns 809,667 shares of the company’s stock valued at $2,113,000 after acquiring an additional 60,494 shares in the last quarter. Hedge funds and other institutional investors own 6.94% of the company’s stock.

Shimmick Stock Down 1.1%

Shares of Shimmick stock traded down $0.04 on Tuesday, hitting $3.55. 10,505 shares of the company were exchanged, compared to its average volume of 49,965. Shimmick has a 1-year low of $1.30 and a 1-year high of $3.83. The stock has a market capitalization of $127.13 million, a price-to-earnings ratio of -1.99 and a beta of 0.54. The company has a 50-day moving average price of $2.81 and a 200 day moving average price of $2.59.

Shimmick (NASDAQ:SHIM) last released its quarterly earnings data on Thursday, November 13th. The company reported ($0.01) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.04) by $0.03. The company had revenue of $141.92 million for the quarter, compared to analyst estimates of $120.20 million. Research analysts forecast that Shimmick will post -2.48 EPS for the current year.

About Shimmick

Shimmick Corporation provides water and other critical infrastructure solutions in the United States. The company undertakes water and wastewater treatment infrastructure; water storage and conveyance, including dams, levees, flood control systems, pump stations, and coastal protection infrastructure; and mass transit, bridges, and military infrastructure projects. It serves federal, state, and local governments. The company was formerly known as SCCI National Holdings, Inc and changed its name to Shimmick Corporation in September 2023.